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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Ramadan influences consumer habits, retail strategy

The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.

Gulf economies pivot towards China: Multi-billion dollar investments strengthen relations

Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi...
  • The value of Gulf companies' acquisitions and investments in China this year increased by more than 1,000 percent yearly to $5.3 billion
  • Abu Dhabi's sovereign wealth fund, the "Mubadala Investment Company," is expanding its operations in China to attract investments

Travel companies give wings to Saudi tourism aspirations

Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination...
  • The Kingdom, aiming to draw 100 million yearly visitors by 2030, is planning to invest over US$1 trillion in tourism over the next decade
  • Travel companies play a key role in promoting Saudi tourism, developing packages, and collaborating with public sector entities

GCC project awards surge by 86% to $49.7bn in Q2

The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength...
  • The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies
  • Saudi Arabia leads as GCC's largest projects market, while the UAE experiences a 127 percent surge, reaching US$12.2bn in the second quarter of 2023

Trade hits new high as GCC-Japan ties get warmer

Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
  • In 2020, Gulf countries' imports from Japan were estimated to be around $17.3 billion, down from $24.3 billion in 2018
  • Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs

Saudi Arabia: An emerging tourism hub

The Kingdom is harnessing the potential of tourism for economic growth, job creation, and cultural exchange. In 2022, Saudi Arabia...
  • With impressive tourism statistics and a vision to attract 100 million annual visits by 2030, the Kingdom aims to contribute 10% to its GDP through tourism
  • Saudi Arabia seizes opportunities through visa simplification, major events, and new markets as sustainability drive and Vision 2030 help the sector grow

Rise in foreign sukuk offset by local currency decline

Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a...
  • Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report
  • A new report by S&P Global Ratings indicates mixed activity levels, suggesting the need for harmonization of Sharia standards to attract non-core jurisdictions

Will extended oil production cuts stunt Saudi growth?

The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain...
  • The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts
  • Amidst varying projections, the overall concern is clear: the extended cuts could strain the economy and may even lead to contraction if the trend continues into 2024

E-visas to drive tourism’s GDP share to 10%

Saudi Arabia is leveraging digital solutions to streamline travel, link tourists with local enterprises through apps, and enhance experiences via...
  • The move has simplified and streamlined the processes for obtaining a tourist visa, making it easier for visitors to travel to the Kingdom
  • Tourists can apply for the 90-day e-visa through an online portal which is an easy, accessible process with quick visa turnaround times

AI ‘disrupts economy’ but Middle East optimistic

The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will...
  • An overwhelming 78 percent of respondents are confident that the rewards of GenAI outweigh the risks
  • 76 percent of all respondents believe that AI-specific regulations are necessary to manage the risks

High oil prices, reforms spur Saudi economic boom

The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates,...
  • The Kingdom's non-oil private sector expanded sharply in June as output and new orders rose at accelerated, multi-year record rates, indicating strong growth rate.
  • Consumer spending saw a remarkable 15% year-on-year rise in May, despite a monthly drop, while SAMA foreign reserve assets rose in May for the first time in six months

March sees GCC Index drop as heavyweight sectors lag

GCC equity markets experienced a March downturn, influenced by seasonal selling pressure during Ramadan, leading to a 3.0% drop in...

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2024 set to see new era of digital transformation

The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...

Dubai leads way as GCC markets show mixed results

Amid market volatility influenced by geopolitical tensions and fluctuating oil prices, pharma, insurance, and healthcare indices led with substantial gains...

Saudi football dominates Gulf sports scene this year

The Kingdom's football undergoes a historic transformation in 2023 with major investments and player signings, and Saudi Arabia wins the...

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Saudi Arabia, UAE lead MENA’s smart city development

In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost...
  • In 2023, the region advanced in smart city initiatives, with Saudi Arabia and the UAE leading the transformation, with Frost & Sullivan projected $50bn investment by 2025.
  • Saudi Arabia, leading with Riyadh, targets 17 cities for smart development, while the UAE's Masdar City, Oman's Sultan Haitham, and Qatar's Lusail City follow suit.

Climate threats haunt GCC’s economy and finance

The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...
  • The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
  • A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.

COP28 initiatives to narrow climate finance disparity

Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
  • At COP28, a significant focus was placed on climate finance, with the establishment of a Loss and Damage Fund to aid developing countries.
  • Antoine Samaha of BCG underscores the urgency of securing more funds and ensuring its equitable distribution to combat climate change.